Chief Operating Officer

The Bank of London offers a safer business banking model by holding all deposits at the Bank of England, eliminating the risk of 'bank runs.' It provides services such as real-timeClearing, Payments, and Settlement, Deposits, Embedded Banking, as well asCommercial Banking tailored to businesses. Powered by proprietary technology, the bank collaborates with SAP Fioneer to deliver innovative solutions. With a focus on exceptional service and core values of ownership, accountability, curiosity and compassion, the bank strives for excellence in all it does.

Description

We are seeking an accomplished and visionary Chief Operating Officer (COO) to lead the operational strategy and execution across our growing banking platform. Reporting directly to the CEO and serving as a key member of the Senior Leadership Team, the COO will play a pivotal role in driving operational excellence, delivering outstanding client service, and ensuring robust governance and compliance across domestic and international operations. Must have previous SMF24 experience.

This is a rare opportunity to define the future of a fast-evolving, growth-focused financial institution—delivering scalable, resilient, and client-centric operations that are fit for the digital age.

Key Responsibilities:

Strategic Leadership

  • Develop and execute a forward-looking operations strategy aligned with Board-approved business goals and growth ambitions.
  • Champion a  customer-centric, digitally enabled operations function that delivers seamless service and drives competitive advantage.
  • Establish scalable frameworks, KPIs, and performance benchmarks to enable sustainable business growth and operational excellence.

Operational Oversight

  • Lead all banking operations, including critical third-party and outsourced service providers, ensuring seamless service delivery and adherence to SLAs.
  • Design and optimise processes for operational efficiency, quality, control, and regulatory compliance.
  • Ensure rigorous governance of all outsourcing arrangements, including performance monitoring, contract compliance, and regulatory obligations.

Financial Crime Risk Management

As first-line owner of financial crime risk management and controls, the COO will ensure efficient and compliant operational execution across the following risk areas:

  • KYC &  Customer Due Diligence (CDD): Oversee end-to-end KYC lifecycle, including onboarding, periodic reviews, and trigger-based updates.
  • Client  Onboarding: Deliver compliant, efficient onboarding journeys aligned with risk appetite and regulatory requirements.
  • Transaction  Monitoring: Ensure timely, effective investigation and escalation of alerts, including SAR management.
  • Sanctions  Compliance: Oversee screening and escalation processes for sanctions adherence across clients, payments, and vendors.
  • Anti-Fraud Controls: Implement and oversee fraud detection and prevention frameworks across all customer channels.
  • Surveillance: Monitor for market abuse and misconduct through robust communications and trade surveillance.
  • Governance  & MI: Deliver actionable financial crime metrics, ensure first-line ownership of controls, and provide insight into emerging risks.
  • Policy  Implementation & Training: Ensure operational teams are trained and aligned with current policies, procedures, and regulatory expectations.

Consumer Duty & Conduct Risk

  • Act as the  senior first-line lead for Consumer Duty, ensuring all customer journeys deliver good outcomes and fair treatment across the product lifecycle.
  • Embed Consumer Duty principles into operational processes, MI, complaints handling, and service design (price & value, consumer understanding, product suitability, support).
  • Lead delivery of customer outcome testing and ensure operational ownership of resulting action plans and improvements.
  • Drive a culture of accountability for conduct and customer outcomes within the operations function.
  • Collaborate with second line teams to identify, manage, and mitigate Conduct Risk in day-to-day operations and product delivery.

Customer Service & Payments

  • Lead the delivery of high-integrity, real-time payment and settlement services across multiple channels and currencies.
  • Ensure compliance with payment system rules, internal policies, and applicable regulatory standards (e.g., Faster Payments, BACS, CHAPS, SWIFT).
  • Promote a strong customer-first culture, ensuring excellence in service delivery,  complaint resolution, and vulnerable customer support.

Governance, Risk & Compliance

  • Maintain a strong first-line control environment, aligned with enterprise risk frameworks and regulatory requirements and expectations, including the safety of client assets (segregated, safeguarding, CASS etc.)
  • Ensure ownership and effective execution of first-line risk and control responsibilities, including RCSA, control testing, and incident management.
  • Provide timely and transparent operational risk reporting to the Executive Team and Risk Committees, including emerging risks and remediation status.
  • Ensure adherence to enterprise-wide risk policies, with clear accountability for first-line execution.
  • Maintain audit readiness and diligently close audit matters raised on a timely basis.

Operational Resilience & Business Continuity

  • Lead the development and execution of the Bank’s operational resilience strategy, including scenario testing, impact tolerances, and disruption readiness.
  • Ensure comprehensive and regularly tested Business Continuity Plans (BCPs) are in place and tailored to the Bank’s critical business services.
  • Collaborate with technology, risk, and business teams to ensure recovery time objectives are realistic and achievable.

Budgeting & Resource Planning

  • Lead operational planning and budget management, ensuring alignment of resources to strategic priorities.
  • Drive continuous efficiency improvements, cost optimisation, and value creation across operational functions.

Leadership & Organisational Development

  • Inspire, lead, and develop a high-performing operations team aligned with the Bank’s mission, culture, and values.
  • Continuously assess the operating model and talent requirements to ensure capability, agility, and succession readiness.
  • Develop clear partnership, sourcing and location strategies to optimise business performance.
  • Role-model the Bank’s leadership values, with a focus on collaboration, accountability, and customer-first thinking.

Executive & Board Engagement

  • Serve as an active member of the ExCo, contributing to enterprise-level strategy, planning, and performance oversight.
  • Provide operational input into cross-functional initiatives including product launches, risk reviews, and market entry strategies.

Candidate Profile:

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Required Qualifications

  • Must have previous SMF24 experience.
  • Bachelor's degree in Finance, Business, or a related discipline; MBA or equivalent postgraduate qualification preferred
  • 15+ years of progressive leadership experience in banking or financial services, with proven expertise in operations, payments, and risk control environments.
  • Strong knowledge of first-line responsibilities, including financial crime compliance, conduct risk, and Consumer Duty execution.

Professional Competencies

  • Deep knowledge of operational frameworks, payment systems, and regulatory standards (e.g., AML, KYC, CASS, PSD2, Consumer Duty).
  • Demonstrated success leading large, multifunctional teams in complex, regulated environments.
  • Experience embedding regulatory principles into scalable operational processes.
  • Proven track record in digital transformation, regtech adoption, and operational innovation.

Leadership Attributes

  • Visionary and results-driven, with excellent judgment and commercial acumen.
  • Strong communicator and cross-functional collaborator, including at Board and ExCo level.
  • Pragmatic leader with high integrity, resilience, and a deep sense of accountability.
  • Passionate about customer outcomes, operational integrity, and sustainable growth.

Why Join Us?

This is more than a senior leadership role—it’s a chance to shape the operational backbone of a future-forward financial institution. As COO, you’ll be instrumental in defining how we scale, serve our customers, and respond to a rapidly evolving regulatory and operational landscape. Join us in building a platform that is efficient, resilient, and designed around fair customer outcomes.

Location

  • London (5 days per week in the office).
  • Travel to other locations may be required on occasion.

Diversity

Bank of London is an equal opportunity employer committed to inclusion, diversity and belonging. All qualified applicants are welcome and will receive consideration for employment without regard to race, colour, age, religion or religious expression, sex, sexual orientation, gender or gender identity and expression, transgender, national origin, or military veteran status.

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Apply now